Business Planning
Whether you are starting a business or planning to exit your business, The Law Office of Stephen D. Dunegan can help you develop and implement the appropriate plan. Planning tools include:
- Choice of Entity
- General or Limited Partnerships
- C or S Corporation
- Limited Liability Company (LLC)
- Operating Agreements
- Buy-Sell Agreements
- Corporate Minutes/Bylaws
- Shareholder Agreements
- ESOPs
Estate and Income Tax Planning
Estate tax and income tax planning must be accounted for during the estate planning process. Although the current estate tax exemption levels are high ($5.49 MM in 2017), for those subject to it the tax is imposed at a flat 40% rate. There are many tools available to minimize the tax if needed. Examples of planning tools we use include:
- Discount planning with partnerships, LLCs and corporations
- Sales to intentionally defective grantor trusts (IDGTs)
- Grantor Retained Annuity Trust (GRAT)
- Qualified Personal Residence Trust (QPRT)
- Irrevocable Life Insurance Trust (ILITs)
- Crummey Trusts to maximize use of the annual gift tax exclusion
- The Charitable Lead Trust (CLT)
- The Charitable Remainder Trust (CRT)
- Private Family Foundation
- Donor Advised Funds
- Family Limited Partnership (FLP)
Charitable Planning
Mr. Dunegan has been extensively involved in establishing non-profit charitable organizations over the years, from pet shelters to evangelical ministries. He also works with his clients who are charitably inclined to develop tax-efficient gifting strategies that will allow them to “leave a legacy” that will live on long after them. Such planning can also provide younger family members with a sense of responsibility and stewardship of family wealth. Examples of charitable planning include:
- The Charitable Lead Trust (CLT)
- The Charitable Remainder Trust (CRT)
- Private Family Foundation
- Donor Advised Funds
- Charitable Gift Annuity (CGA)